White & Case and Kirkland & Ellis were the top mergers and acquisitions (M&A) legal advisers in the power sector during the first three quarters (Q1-Q3) of 2025 by value and volume, respectively, according to the latest legal advisers league table by GlobalData, a leading data and analytics company.

An analysis of GlobalData’s Financial Deals Database reveals that White & Case achieved the leading position in terms of value by advising on $45.7 billion worth of deals. Meanwhile, Kirkland & Ellis led in terms of volume by advising on a total of 26 deals.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Interestingly, there are many similarities between the performance of White & Case and Kirkland & Ellis. Apart from leading by value, White & Case occupied the second position by volume during Q1-Q3 2025. Similarly, Kirkland & Ellis, apart from leading by volume, occupied the second position by value during the same period.

“Both the law firms registered year-on-year improvement in terms of deal volume and value, and subsequently improvement in their respective ranking by these metrics. They were also involved in several big-ticket deals during Q1-Q3 2025 and in some cases, they even advised on the same high-value deal. For instance, both Kirkland & Ellis and White & Case advised on $16.4 billion deal for the acquisition of Calpine by Constellation Energy.”

Kirkland & Ellis occupied the second position in terms of value, by advising on $45.3 billion worth of deals, followed by Gibson, Dunn & Crutcher with $35.7 billion, Latham & Watkins with $24 billion, and Debevoise & Plimpton and Fried, Frank, Harris, Shriver & Jacobson jointly occupying the fifth position with each advising on a deal worth $16.4 billion.

Meanwhile, White & Case occupied the second position in terms of volume with 23 deals, followed by CMS with 23 deals, Latham & Watkins with 21 deals and Dentons with 19 deals.